Royal Bank of Canada Reaffirms “Outperform” Rating for Intellia Therapeutics (NASDAQ:NTLA)

Intellia Therapeutics (NASDAQ:NTLA)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $54.00 target price on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 133.26% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Evercore ISI raised Intellia Therapeutics to a “strong-buy” rating in a report on Friday, August 9th. Canaccord Genuity Group reissued a “buy” rating and issued a $73.00 target price on shares of Intellia Therapeutics in a report on Thursday, June 27th. StockNews.com raised Intellia Therapeutics to a “sell” rating in a report on Thursday, June 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 target price on shares of Intellia Therapeutics in a report on Monday, June 24th. Finally, Stifel Nicolaus lowered their target price on Intellia Therapeutics from $80.00 to $64.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Intellia Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.77.

Intellia Therapeutics Stock Up 2.8 %

NTLA stock traded up $0.63 on Thursday, reaching $23.15. 23,377 shares of the company’s stock were exchanged, compared to its average volume of 1,502,510. The stock has a fifty day moving average of $23.38 and a 200-day moving average of $24.24. Intellia Therapeutics has a twelve month low of $19.21 and a twelve month high of $34.94. The firm has a market cap of $2.23 billion, a PE ratio of -4.32 and a beta of 1.77.

Intellia Therapeutics (NASDAQ:NTLA) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.29). The company had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $19.68 million. During the same quarter in the previous year, the company earned ($1.40) earnings per share. Intellia Therapeutics’s revenue for the quarter was down 48.5% compared to the same quarter last year. On average, equities research analysts predict that Intellia Therapeutics will post -5.19 EPS for the current fiscal year.

Institutional Trading of Intellia Therapeutics

Large investors have recently made changes to their positions in the stock. Avidity Partners Management LP boosted its stake in shares of Intellia Therapeutics by 18.0% during the fourth quarter. Avidity Partners Management LP now owns 447,434 shares of the company’s stock valued at $13,642,000 after acquiring an additional 68,334 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Intellia Therapeutics by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 700,228 shares of the company’s stock worth $21,350,000 after buying an additional 18,987 shares during the period. Opaleye Management Inc. purchased a new position in Intellia Therapeutics during the fourth quarter worth about $3,019,000. Vanguard Group Inc. lifted its position in Intellia Therapeutics by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 8,347,449 shares of the company’s stock worth $254,514,000 after buying an additional 155,579 shares during the period. Finally, Comerica Bank lifted its position in Intellia Therapeutics by 853.6% during the first quarter. Comerica Bank now owns 37,105 shares of the company’s stock worth $1,021,000 after buying an additional 33,214 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc, a genome editing company, focuses on the development of curative therapeutics. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; NTLA-2002 for the treatment of hereditary angioedema; and NTLA-3001 for alpha-1 antitrypsin deficiency associated lung disease.